select
|

Exponential growth expected for Alberton property market

Strong demand in Alberton's diverse residential property market is expected to lead to exponential growth in the near future.
 
The city on Johannesburg's south-eastern border is already undergoing significant modernisation and densification, says David Enslin, owner of top local estate agency Harcourts 1 Vision.
 
Reasons for Alberton's popularity, he says, include excellent schools, established infrastructure and job opportunities in both the industrial and commercial sector. "And as a consequence of growing demand, home prices here are starting to outstrip those for equivalent homes in other centres surrounding Johannesburg."


?4 Bedroom House for sale in New Redruth, Alberton
 
Enslin’s agency is currently involved in several densification projects in the suburb New Redruth where large 2000sqm stands are being subdivided to make room for small cluster developments of between four and eight units. Similar developments are being undertaken in the suburbs of Alberante, Raceview and Alberton North, where even greater densification is being proposed.
 
The freehold units are selling briskly and finding favour among buyers in the LSM7 and higher income groups at prices from R1,25m to R1,9m. Buyers with young families are especially active at the lower end of this range, which offers three-bedroom, two-bathroom homes.
 

?3 Bedroom house for sale in Meyersdal, Alberton

Units at the top of the range, which offer four bedrooms, three bathrooms and double garages on stands of 500sqm, attract buyers with larger families, while those who are downscaling prefer the mid-priced units.
 
Meanwhile, starter homes in the traditional townships on the periphery of the city are attracting new entrants to the market at prices from around R250 000. But, says Enslin, most current local activity is in the R800 000 to R1,5m price range, with older homes offering three bedrooms and two bathrooms in suburbs such as Albertsdal, Brackendowns Extension, Mayberry Park, General Alberts Park, Florentia and Alberton North being particularly popular among first-time buyers with young families. Many of these homes are being upgraded and modernised by new owners.
 

?6 Bedroom House for sale in Meyersdal, Alberton

"Buyers are typically parents who both work and they are buying 'location' to take advantage of nearby schools and convenient shopping and other facilities, within an excellent infrastructure" says Enslin.
 
Buyers in the top end of the local market are active in lifestyle estates where prices in the Meyersdal Nature Estate, for instance, start at around R3.75m. The adjacent Meyersdal Eco Estate is also still attracting buyers at prices from around R6m. “In contrast to other areas in Alberton where densification is evident, low density is one of the strong attractions of the lifestyle estates. In Meyersdal Eco Estate, for example, only 15% of the estate is being planned for development and residents enjoy large stands with an average size of 2000sqm. The remaining portion of the estate is reserved for wildlife and natural flora.”
 
Enslin says that in order to prepare for the expected growth of the market, his franchise is currently on a recruitment drive for more experienced agents. "We plan to quadruple our sales staff in the next two to three years and will double the current number before the end of the year to cope with growing activity in the market."


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 23 Feb 2018
      RE/MAX Property Associates’ Table View Office, which services property buyers and sellers along the Table Bay coastline and surrounds, has recently sold a home in Woodbridge Island for R11 million – the highest price paid for any home in the sought-after security complex.
    • 23 Feb 2018
      Choosing to invest in an overseas property can be daunting. But as more and more investors recognise the value of a diversified portfolio that includes property outside of their own country of residence, international property investment is growing in popularity.
    • 23 Feb 2018
      The positive change in South Africa’s political landscape is paving the way for an upswing in the local property market.
    • 22 Feb 2018
      An excellent credit score is one of the most priceless assets a potential home buyer can have. This tool has the power to secure favorable mortgage and refinancing rate, influencing everything from the size of the loan repayment to the interest rate on the home loan.
    • 22 Feb 2018
      What do you do if you love your home’s location and the area, but the home no longer fits your growing family’s needs? Do you stay and renovate your existing home or find a home that meets your developing criteria?
    • 22 Feb 2018
      While every owner wants to sell their property at the best possible price, overpricing a home can be the kiss of death for a sale.
    • 21 Feb 2018
      Given the hand they were dealt, government has performed a delicate balancing act which it is hoped will serve to reignite confidence in investment in South Africa, regain our global credibility and satisfy the credit ratings agencies, says Dr Andrew Golding, chief executive of the Pam Golding Property group.
    • 21 Feb 2018
      The real estate mantra, ‘location, location, location’ remains a strong market influence regardless of the prevailing economy, with suburbs like Rondebosch enjoying the buffering benefit of being ideally situated.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK